Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need a full completed step-by-step answer of this accounting question. I already done the whole thing, just want to make sure that my process

I need a full completed step-by-step answer of this accounting question. I already done the whole thing, just want to make sure that my process is correct.

image text in transcribed
b) Prepare a Trial Balance for Glam Pet Service dated September 30, 2020. Write a chart of a) On September 01, 2020 Roger Simpson started his business Glam Pet Service. Record each account number that would represent each account in column A of the trial balance spread of the transactions below in the respective T-Accounts for Glam Pet Service that took place sheet. during the month of September. After entering teach transaction into the accounts, calculate and show the account balances in the T-Accounts. c) Prepare an income statement for Glam Pet Service as of September 30, 2020. Transactions d) Prepare the equity section of the balance sheet for Glam Pet Service as of September 30, 2020 1. On September 1, 2020, Mr. Simpson started his business with the following assets and liabilities: Bank $4651; Equipment $2465; Automobile $8460; A/P-Ace Finance Co. $2850; and A/P-Grand's Stationers $1000. (You need to calculate the opening capital) 2. Performed a service for S. Stewart and received $200 cash in payment. 3. Received a bill from Grand's Stationers for $460 of supplies purchased on account. 4. Issued a cheque to O. Mack $720 cash for wages. 5. Issued a cheque to J. Mahoney for the rent for the month, $1100. 6. Issued a bill to J. Morrison for services performed, $500. 7. Paid $30 cash for postage. 8. Received a cheque for $300 from J. Morrison as part payment on his account. 9. Issued a cheque to P. Simpson, the owner, for personal use, $800. 10. Issued a bill to R. Arthur for services performed, $1000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Robert Hurt

2nd Edition

78111056, 978-0078111051

More Books

Students also viewed these Accounting questions

Question

understand gender differences with regard to work-related outcomes;

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago